Quote:
Originally Posted by Shaun @ Tru6
... those restaurants aren't cash only because of credit card fees, they are cash only to avoid paying their fair share of taxes.
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Not necessarily.
I helped a friend get his small business off the ground a few years ago, and learned what it takes to accept credit cards.
-Complying with the security requirements handling customer's information
-One needs to have good personal credit.
At the time, my friend may not have been approved because his less than stellar credit.
All the responsibility fell on my shoulders.
There are plenty of small business owners who either have poor credit or see the cost of compliance plus the fees as taking too big of a bite out of their profit.
Sure, to most businesses, credit card fees are a normal cost of doing business. Not accepting cards is going to limit the customer base.
But accepting or not accepting credit card transactions is a simple business decision.
Your blanket statement implies anybody who doesn't take credit cards is a cheat. I don't agree.